coinmasterspinsgratis2020| Recruitment, examination and training company Zhonggong Education had a net loss of 200 million yuan last year and turned losses in the first quarter of this year

April 29th, enrollment examination and training company Zhonggong Education (Rights Protection) Technology Co., Ltd. (Zhonggong Education, 002607Coinmasterspinsgratis2020.SZ) issue the annual report for 2023 and the first quarterly report for 2024.

In 2023, the total revenue of Zhonggong Education was 3.086 billion yuan, down 36.03% from the same period last year. The net profit attributed to shareholders of listed companies was-209 million yuan, a decrease of 80.98% over the same period last year. By the end of 2023, there were 378 million yuan in monetary funds and 149 million yuan in short-term loans for public education.

In the first quarter of this year, the company's operating income was 763 million yuan, down 14.08% from the same period last year, while its net profit was 82.793 million yuan, an increase of 240.67% over the same period last year.

In its performance forecast on January 30, Zhonggong Education said that the pre-loss in 2023 was mainly due to the postponement of the written examination of the provincial examination in 2024 compared with 2023, and the smooth postponement of some of the enrollment and teaching activities originally scheduled for the fourth quarter of last year. In addition, the training course cycle of the enrollment examination is relatively long, and the delivery of some of the company's course orders has not been completed in the fourth quarter, which does not meet the income recognition conditions, and the corresponding advance collection will be reflected in the balance of contract liabilities at the end of the year; in addition, the company provides for one-time influencing factors such as asset impairment loss and deferred income tax asset reversal.

Zhonggong Education is a large public employment and re-employment service provider in China. The main business of Zhonggong Education spans three parts: public service post recruitment examination training, academic qualification promotion, vocational qualification and vocational ability training, mainly serving 18-45-year-old college students, college graduates and all kinds of professional professionals and other knowledge-based employment groups.

According to the composition of business income in 2023, the sequence income of civil servants was 11.37 yuan, down 40.89% from the same period last year, accounting for 36.84% of business income; the sequence income of public institutions was 397 million yuan, down 54.83% from the same period last year, accounting for 12.87% of business income; the serial income of teachers was 416 million yuan, down 38.52% from the same period last year, accounting for 35.54% of business income. The income of the comprehensive series was 1.096 billion yuan, down 17% from the same period last year.Coinmasterspinsgratis2020He earns 38.98 million yuan.

According to the annual report, more than 218 million people in China have university degrees, and the number of graduates has exceeded 10 million every year. In 2023, the number of college graduates reached 11.58 million, another record high. The potential demand for employment services will be effectively stimulated and further released. According to public data, 39600 people will be enrolled in the national civil service examination in 2024, an increase of 6.74 percent over the previous year. The number of applicants for the national examination exceeded 3 million, and the ratio of those who passed the qualification test to the number of recruitment plans was about 77:1. More than 150000 people were enrolled in the multi-provincial joint examination in 2024, an increase of more than 2% over the same period last year. With the transformation of China's higher education from "elite" to "popular", the employment competition pressure of college graduates has intensified, and "policy posts" have become a popular choice with grass-roots work experience and fresh college graduates.

In 2023, Zhonggong Education closed down some outlets with low performance output and low human efficiency by means of shutting down and removing coarsening and refinement. As of December 31, 2023, the total number of directly operated branches of the company was 783, down from 1113 in 2022, a decrease of 29.65% compared with the same period last year; the number of employees, R & D personnel and teachers decreased by nearly half respectively; and there were 881 R & D personnel and 4565 teachers at the end of the period.

According to the annual report, in 2023, Zhonggong's investment in educational research and development totaled 281.8 million yuan, down 52.41 percent from the same period last year and accounting for 9.13 percent of business income.

Secondary public education has also increased technical investment in Homo sapiens, AIGC and other aspects. Zhonggong Education said that in June 2023, the company established the Institute of artificial Intelligence and Education to continue to promote the application of AI, digital human and other technologies in the field of employment service training.

In response to questions from investors, Zhonggong Education said that at present, the company's teaching and operation are normal, its main business has been repaired to a certain extent, and new businesses and technologies are also being actively explored and laid out, including building majors with a number of universities, using AI technology to optimize online curriculum platform, launching services such as "Xiao Lu teacher" AI course and AI application review and correction, so as to enhance students' learning experience.

In addition, Zhonggong Education has set up a subsidiary, Beijing Zhonggong Yan Xuan Technology Co., Ltd., while developing its traditional business. At present, Zhonggong Yan Xuan's live broadcast business is being gradually promoted.